 "Nitin Fire surges 10% after Amitabh Bachchan buys stake")
Shares of Nitin Fire Protection Industries have surged by nearly 10% to Rs 47.05, extending Friday’s nearly 6% gain on the National Stock Exchange (NSE), after the bollywood star Amitabh Bachchan acquired more than one million equity shares of the company through the open market.
On August 14, Amitabh Harivanshrai Bachchan had bought 1.5 million shares representing 0.51% of the total equity of Nitin Fire Protection Industries at a price of Rs 42.99 per share, according to disclosures made under bulk deal section on the NSE.
The stock opened at Rs 46.50 and touched a high of Rs 47.15 on the NSE. A combined 1.53 million shares changed hands on the counter on the NSE and BSE till 10:09 AM.
Meanwhile, the stock has zoomed by 73% from its 52-week low of Rs 27 touched on June 12, 2015, compared to a 6% rise in the CNX Nifty.
On August 14, Amitabh Harivanshrai Bachchan had bought 1.5 million shares representing 0.51% of the total equity of Nitin Fire Protection Industries at a price of Rs 42.99 per share, according to disclosures made under bulk deal section on the NSE.
The stock opened at Rs 46.50 and touched a high of Rs 47.15 on the NSE. A combined 1.53 million shares changed hands on the counter on the NSE and BSE till 10:09 AM.
Meanwhile, the stock has zoomed by 73% from its 52-week low of Rs 27 touched on June 12, 2015, compared to a 6% rise in the CNX Nifty.
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